Publication date: 29 Dec 2023
Throughout 2023 we’ve been collecting, analysing and presenting our readers with the most relevant news from the world of gambling. How to obtain a gambling license in different countries of the world and why it is more profitable to regulate the market rather than ban online casinos and bookmakers? Why is legal betting and gambling profitable and how much money does it bring to the country’s budget?
We offer you the TOP 5 news about the betting and gambling regulation by the end of 2023.
- The No. 1 news throughout the year is about Brazil! All year long we have been following the “Brazilian series” which is the approval of the Brazilian gambling law. Which companies will be able to get a Brazilian gambling license? How much does the license cost and what taxes will online casinos and bookmakers in Brazil pay? What is prohibited and what is allowed – it’s all in the new document. Towards the end of 2023, the last step is left – President Lula Da Silva must put his signature. Let’s hope that 2024 will greet us with great news.
- News No. 2 is regulation in Peru. In December 2023, the Chamber of Deputies of Chile made everyone a New Year’s present and approved a bill to regulate gambling in the country. The new document establishes the responsibility of the regulator (Casino, Sweepstakes and Gambling Authority) and other government agencies to oversee licensing and market regulation. Furthermore, the document details how player protection, responsible gaming, rules for advertising and promotions of online casinos and bookmakers, and penalties for operating in the shadow sector will be arranged.
- News No. 3 or Law No. 55 in Malta as an illustration of the question “Was it possible to do so?”. In June 2023, “Malta started an iGaming war against the European Union”, namely passing a law exempting operators with a Maltese license from liability. What’s the crux of the conflict? EU countries, in order to attract players, require operators to obtain local licenses, i.e. to pay duties and taxes to the country’s budget. Meanwhile Malta, referring to the principle of free movement of goods and services, claims that only one licence – the Maltese one – is quite sufficient. Consequently, the disputes between lawyers and officials are still going on, and we are eagerly following the news!
- News No. 4 – Curaçao reform. One of the “pillars” of the gambling market, famous for its loyalty to casinos and bookmakers, has started a legislative reform. The current system of master licenses and sub-licenses will be abolished and a more rigorous regulatory regime for the gambling industry will be implemented. By the end of the year, the new National Gambling Ordinance (LOK) is still under review. Nonetheless, the authorities stand their ground – the operation of the market must be transparent and in line with international standards.
- News No. 5 in order, but not in importance – betting and gambling in Peru. In October 2023, Peru passed its first gambling laws and published regulatory rules. These will come into force in February 2024, operators will have a month to obtain a Peruvian gambling license. Welcome to the new market!
Stay tuned for 3SNET’s 2024 news and reviews, featuring only the most relevant and essential information!
Did you like the article?
Share it with your friends via favorite social media
